BEIJING, June 27 (Xinhua) -- Chinese President Xi Jinping held talks with Myanmar counterpart U Thein Sein on Friday and both pledged to boost cooperation between the two nations.

Xi said China and Myanmar are close neighbors with a linked destiny and the Chinese side hopes for enduring stability and development in Myanmar.

"We believe Myanmar will continue following a development path in accordance with the country's own national conditions," he said.

Both China and Myanmar are undergoing an important period of deepening their reform amid a volatile international and regional situation.

They should thus bear in mind the fundamental and long-term interests of their people, stick to the direction of friendship, carry forward the tradition of mutual trust and assistance, and boost their cooperation to advance ties in a sustained, healthy and stable way, said Xi.

According to the Chinese leader, China will keep a friendly policy toward Myanmar.

Xi proposed the two sides maintain the frequency of high-level visits, enhance communication and coordination, deepen exchanges between the two ruling parties to learn from each other on governance, boost cooperation on defence, law enforcement and security, and work together to fight terrorism and trans-border crimes.

Hailing their cooperation as reciprocal and win-win, he said the Chinese government encourages Chinese enterprises to invest in Myanmar and expects the two sides to create a favorable environment for the smooth operation of large-scale projects involving energy, mining, gas pipelines and hydro-electricity, as well as agricultural projects.

Xi said China welcomes Myanmar's participation in the construction of the 21st century Maritime Silk Road and the development of an economic corridor between Bangladesh, China, India and Myanmar.

He also suggested the two sides increase cultural and people-to-people exchanges, highlighting the importance of setting up cultural centers in each other's side.

According to Xi, China will back Myanmar as it holds the rotating chairmanship of the Association of Southeast Asian Nations (ASEAN) this year and is ready to work with it to advance the China-ASEAN relationship and safeguard peace and stability in the region.

Applauding China as Myanmar's good neighbor, friend and partner, U Thein Sein said the two nations' friendship has been increasingly cemented over the 64 years since the establishment of diplomatic relations.

U Thein Sein voiced his gratitude for China's enduring support for Myanmar, noting that Myanmar will continue backing China on issues involving China's core interests and major concerns.

The Myanmar president said his country is willing to advance its partnership with China in a sustained way.

During their talks at the Great Hall of the People, U Thein Sein also invited Xi to visit Myanmar, saying that such a visit would promote cooperation between the two countries.

Myanmar looks forward to an elevation of bilateral trade, welcomes investment from China, and will implement the deals reached between the two countries and work with China to open new areas of cooperation, such as disaster prevention and rescue, vowed the visiting president.

U Thein Sein also said Myanmar will play a positive role in promoting cooperation between China and the ASEAN.

U Thein Sein arrived in Beijing on Friday for a state visit at Xi's invitation. On Saturday and Sunday, he will attend a ceremony to commemorate the 60th anniversary of the announcement of the Five Principles of Peaceful Co-existence.

Agreed upon by Myanmar, China and India in 1954, the five principles are mutual respect for each other's territorial integrity and sovereignty, mutual non-aggression, mutual non-interference in each other's internal affairs, equality and cooperation for mutual benefit and peaceful co-existence.

During Friday's talks, the two presidents also pledged to follow the spirit of the principles when handling international relations.

After the talks, they witnessed the signing of several deals, involving culture, education and medical care.

Prior to their talks, Xi held a red-carpet ceremony to welcome his guest.